Since finding support and reaching a bottom in beginning of the year, pair has been moving in up direction. After reversed Head and Shoulders pattern it continued its up move for more then 700 pips. On Daily chart you can clearly see 7 waves and we are currently in termination of 8th wave or 4th in extended motive wave. Pair has reached 38.2% retracement and found...
EUR/JPY have completed 5 wave in Elliot wave sequence and it is currently in ABC waves. A wave has been established and so has B. With termination of B wave I'm expecting a move towards C to 127.2% of XA move. Also I have noticed that pair is moving in Butterfly formation. With completion of Wave B it was a completion of point D in butterfly formation as well....
Pair retraced to 61.8% of last up move. It broke down trend line and in it is currently creating possible reverse Head & Shoulders pattern. This could be a good buy opportunity. Right shoulder hasn't been completed yet. 200 MA is providing support on Daily chart and I'm expecting another test of that support. If pair confirms that support I would buy pair at...
Noticed possible Cup & Handle formation on Daily chart of GBP/NZD. After finding resistance @1.9800 pair is moving down in channel that can be clearly seen on 4 hour chart. When pair falls bellow support level 1.9600, which is also 38.2% Fibonacci retracement of previous up move, I will be looking to buy pair on 50% of that same Fibonacci around 1.9500 area. Stop...
